Wedbush Boosts Ardelyx (NASDAQ:ARDX) Price Target to $15.00

Ardelyx (NASDAQ:ARDX) had its price objective increased by Wedbush from $14.00 to $15.00 in a report released on Friday, Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock. Wedbush also issued estimates for Ardelyx’s Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.17 EPS, FY2025 earnings at $0.37 EPS, FY2026 earnings at $1.01 EPS, FY2027 earnings at $1.44 EPS and FY2028 earnings at $1.87 EPS.

Several other analysts also recently commented on ARDX. Cantor Fitzgerald reaffirmed an overweight rating on shares of Ardelyx in a research note on Friday, January 12th. Leerink Partnrs reiterated an outperform rating on shares of Ardelyx in a report on Friday, April 5th. StockNews.com cut Ardelyx from a hold rating to a sell rating in a research note on Monday, February 26th. Citigroup lifted their price target on shares of Ardelyx from $9.00 to $14.00 and gave the company a buy rating in a research note on Wednesday, January 10th. Finally, Piper Sandler increased their price objective on shares of Ardelyx from $12.00 to $15.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Ardelyx has an average rating of Moderate Buy and an average target price of $12.81.

Ardelyx Price Performance

Shares of ARDX opened at $8.72 on Friday. The stock has a market cap of $2.04 billion, a P/E ratio of -31.14 and a beta of 0.87. Ardelyx has a 1 year low of $3.16 and a 1 year high of $10.13. The stock’s 50-day moving average price is $7.67 and its two-hundred day moving average price is $6.83. The company has a current ratio of 4.88, a quick ratio of 4.64 and a debt-to-equity ratio of 0.30.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.03%. The business had revenue of $46.00 million for the quarter, compared to analyst estimates of $36.40 million. During the same quarter last year, the firm earned ($0.13) EPS. Ardelyx’s quarterly revenue was up 303.5% compared to the same quarter last year. On average, equities analysts predict that Ardelyx will post -0.44 earnings per share for the current year.

Insider Activity

In related news, insider Elizabeth A. Grammer sold 86,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $7.73, for a total transaction of $664,780.00. Following the completion of the transaction, the insider now owns 312,993 shares in the company, valued at $2,419,435.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Elizabeth A. Grammer sold 86,000 shares of Ardelyx stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $7.73, for a total value of $664,780.00. Following the sale, the insider now owns 312,993 shares of the company’s stock, valued at $2,419,435.89. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert Blanks sold 5,017 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $8.75, for a total value of $43,898.75. Following the transaction, the insider now directly owns 368,186 shares of the company’s stock, valued at $3,221,627.50. The disclosure for this sale can be found here. Insiders have sold 178,820 shares of company stock worth $1,400,524 over the last ninety days. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ardelyx

Several hedge funds and other institutional investors have recently made changes to their positions in the company. HighMark Wealth Management LLC bought a new stake in Ardelyx during the first quarter worth $36,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Ardelyx during the 1st quarter worth about $64,000. Willis Johnson & Associates Inc. bought a new stake in shares of Ardelyx in the 3rd quarter valued at about $41,000. SJS Investment Consulting Inc. acquired a new stake in Ardelyx in the 4th quarter valued at about $62,000. Finally, Jump Financial LLC bought a new position in Ardelyx during the fourth quarter worth about $63,000. 58.92% of the stock is owned by institutional investors.

About Ardelyx

Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company's lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.